Foot Locker is considering offers

Foot Locker Inc., the parent of Bradenton-based Champs Sports, said Monday it is considering strategic options, including offers from private equity firms.

The athletic shoe and apparel retailer, originally founded as Woolworth Corp. and later Venator Group, also is projecting a loss for the second quarter because of merchandise inventory clearance activity.

The company expects a second-quarter loss of 17 cents to 22 cents per share. Previously, it projected a profit of 15 cents to 20 cents. The change reflects increased markdowns in its U.S. stores of about $55 million, or 22 cents per share, to clear out slow-selling merchandise.

Analysts expect a profit of 15 cents per share.

The company's shares, which trade on the New York Stock Exchange, were selling for $18.83 at the close of regular trading on Monday, down 20 cents.

The company expects same-store sales to fall 7 percent to 8 percent during the quarter.

Foot Locker also promoted Keith Daly, president and chief executive of Foot Locker Europe, to president and CEO of Foot Locker U.S. He replaces Nick Grayston, who is leaving the company. Daly will be replaced by Dick Johnson, who is president and chief executive of Footlocker.com. A search for a successor to Johnson is being conducted.

Foot Locker also plans to close up to 250 underperforming U.S. stores during the year, twice the number it originally planned to close in 2007.

Champs Sports, founded in Bradenton as Robby's Sporting Goods in 1960, has its headquarters on Manatee Avenue. There are 576 Champs stores throughout the United States, Canada and the U.S. Virgin Islands.